The Business Research Company’s Aircraft Landing Gear Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, April 19, 2022 /EINPresswire.com/ -- The increasing procurement of modern generation aircrafts is expected to propel the growth of aircraft landing gear market. Due to increasing demand of commercial and cargo aircraft worldwide and increasing investments in defense equipment across countries, the demand for landing gear increases, which is expected to drive the aircraft landing gear market. For instance, in July 2021, US based airline company, United Airlines placed orders for a combined 270 Airbus and Boeing narrow body jets, including 200 737 Max and 70 A321neos. Thus, the increasing procurement of modern generation aircrafts is driving the growth of the aircraft landing market.

The global aircraft landing gear market size is expected to grow from $10.77 billion in 2021 to $11.56 billion in 2022 at a compound annual growth rate (CAGR) of 7.34%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global aircraft landing market share is expected to reach $16.06 billion in 2026 at a CAGR of 8.57%.

Read more on the Global Aircraft Landing Gear Market Report
https://www.thebusinessresearchcompany.com/report/aircraft-landing-gear-global-market-report

Technological advancements are one of the key aircraft landing gear market trends being followed by the companies operating in the market. Companies are focusing on manufacturing lighter landing gears with low complexities. For instance, in April 2021, US based electric airplane company, Metro Hop showcased its concept Active Landing Gear with electric motors in each wheel. The new system is capable of shortening the takeoff and landing runs of electric airplanes. The lower power requirements and less complexity ensure lower less takeoff weight, leaving capacity for more passengers or cargo.

In August 2021, The Precision Aviation Group Inc Company, a USA-based provider of products and value-added services to the worldwide aerospace and defense industry acquired Trace Aviation, Inc. for an undisclosed amount. The deal expands Precision Aviation’s landing gear MRO capabilities and significantly expands the products and services offerings to the existing customers of Precision Aviation. Trace Aviation, Inc. is a USA-based aviation company that focuses in the innovative exchange overhaul of landing gear components.

Major players covered in the global aircraft landing gear industry are Safran, Collins Aerospace, Liebherr, Sumitomo Precision Products Co. Ltd, Triumph Group, AAR Corporation, CIRCOR International Inc, GKN Aerospace Services Ltd., Magellan Aerospace Corporation, SPP Canada Aircraft Inc, Hawker Pacific Aerospace, Revima Group, Meggitt PLC, Parker-Hannifin Corporation, Crane Co. and Moog Inc.

TBRC’s global aircraft landing gear market report is segmented by gear type into main landing gear, nose landing gear, by aircraft type into fixed wing, rotary wing, by end-user into OEM, aftermarket.

Aircraft Landing Gear Market Report 2022 – By Gear Type (Main Landing Gear, Nose Landing Gear), By Aircraft Type (Fixed Wing, Rotary Wing), By End User (OEM, Aftermarket) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a aircraft landing gear market overview, aircraft landing gear market forecast aircraft landing gear market size and aircraft landing gear market growth for the whole market, aircraft landing gear market segments, aircraft landing gear market geographies, aircraft landing gear market trends, aircraft landing gear market drivers, aircraft landing gear market restraints, leading competitors’ revenues, profiles, and market shares.

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